14 May '12, 9am

As profit soars, @SingTel goes shopping in India and China

As profit soars, SingTel goes shopping in India and China May 14, 2012 by Terence LEE SingTel, Southeast Asia’s largest mobile carrier, is looking to potentially acquire non-phone businesses in China and India, in a move away from slow-growth markets in Singapore and Australia, reported Bloomber g. In a statement released last week, the phone company mentioned that it may raise its stakes in its Asian and African associaties, as well as make other “strategic investments”. The company also reported a 30 percent jump in fourth-quarter profit, at S$1.29B (US$1B), in the three months preceding 21st March. The Singapore-based mobile carrier plans to grow investments in emerging markets for its digital services division. At this stage, SingTel needs to find new ways to monetize as the traditional carrier business begins to lose its dominance, said an analyst. “When we look at ac...

Full article: http://sgentrepreneurs.com/news-stop/2012/05/14/as-profit...

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